CMN Resolution No. 4974 Consolidating Norms Regulating the Student Financing Fund (Fies) Effective Interest Rates — BCB — BR

RESOLUTION
CMN NO. 4,974, OF DECEMBER 16, 2021

Consolidates the norms that regulate item II of Article 5 and item II of Article 5-C of Law No. 10,260, of July 12, 2001, which deals with the Student Financing Fund (Fies), with the purpose of establishing the method for defining the effective interest rate of the financing, and expressly revokes the Resolutions that deal with the subject.

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964, makes it public that the National Monetary Council, in a session held on December 16, 2021, based on Article 4, item VI, of Law No. 4,595, of 1964, Articles 5, item II, and 5-C, item II, of Law No. 10,260, of July 12, 2001, and Articles 4, 5, 6, item I, 7, item II and § 1, and 8, item I, of Decree No. 10,139, of November 28, 2019,

R E S O L V E S:

Article 1. The effective interest rate for contracts of financing of the Student Financing Fund (Fies), as provided in Article 5 of Law No. 10,260, of July 12, 2001, is:

I - 3.40% p.a. (three and forty hundredths percent per annum), for contracts entered into from 1999 to June 2015; and

II - 6.50% p.a. (six and fifty hundredths percent per annum), for contracts entered into from July 2015 to December 2017.

Article 2. The effective interest rate for Fies financing contracts, as provided in Article 5-C of Law No. 10,260, of 2001, entered into from January 2018, is equivalent to the variation of the National Index of Consumer Prices Broad (IPCA), published by the Brazilian Institute of Geography and Statistics (IBGE), and shall have annual capitalization.

Article 3. The following are revoked:

I - Resolution No. 2,647, of September 22, 1999;

II - Resolution No. 3,415, of October 13, 2006;

III - Resolution No. 3,777, of August 26, 2009;

IV - Resolution No. 3,842, of March 10, 2010;

V - Resolution No. 4,432, of July 23, 2015; and

VI - Resolution No. 4,628, of January 25, 2018.

Article 4. This Resolution enters into force on January 3, 2022.

Roberto de Oliveira
Campos Neto
President of the Central Bank of Brazil

Lineage: No known changes

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The links and the sentences they come from (8)

Supersedes

Resolution No. 2647 dated 1999-09-22Not in RegAlert
“The following are revoked: I - Resolution No. 2,647, of September 22, 1999;”
Resolution No. 3415 dated 2006-10-13Not in RegAlert
“II - Resolution No. 3,415, of October 13, 2006;”
Resolution No. 3777 dated 2009-08-26Not in RegAlert
“III - Resolution No. 3,777, of August 26, 2009;”
Resolution No. 3842 dated 2010-03-10Not in RegAlert
“IV - Resolution No. 3,842, of March 10, 2010;”
Resolution No. 4432 dated 2015-07-23Not in RegAlert
“V - Resolution No. 4,432, of July 23, 2015;”

Issued under

Lei n.º 4.595, de 31 de dezembro de 1964 — dispõe sobre a política e as instituições monetárias, bancárias e creditícias (establishes the National Financial System and the Banco Central do Brasil)1964 · BR-LAW
“The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595, of December 31, 1964”
Decree No. 10,139, of November 28, 2019Not in RegAlert
“Articles 4, 5, 6, item I, 7, item II and § 1, and 8, item I, of Decree No. 10,139, of November 28, 2019”
Law No. 10260 dated 2001-07-12Not in RegAlert
“Consolidates the norms that regulate item II of Article 5 and item II of Article 5-C of Law No. 10,260, of July 12, 2001”